Charter Financial Publishing Network Privacy Settlement: $1M

Michigan residents who subscribed to Charter Financial Publishing Network publications (like Financial Advisor) before July 31, 2016, and whose subscription details were disclosed between April 25 and July 30, 2016, without their consent.

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Charter Financial Publishing Network has reached a settlement worth $1 million to address allegations of breaching Michigan privacy laws by sharing subscriber information with third parties.

This settlement applies to residents of Michigan who were subscribed to any of Charter Financial Publishing Network’s publications before July 31, 2016. Eligibility extends to individuals whose subscription details were disclosed by Charter between April 25 and July 30, 2016, without obtaining their consent.

The lawsuit alleges that Charter Financial divulged subscriber information to third parties without obtaining proper consent, a violation of Michigan’s Preservation of Personal Privacy Act.

Charter Financial Publishing Network, which is an employee-owned publishing company known for publications like Financial Advisor, has agreed to the settlement without admitting any wrongdoing.

As per the settlement terms, each class member is anticipated to receive an equal share of the $1 million settlement fund. While the estimated amount per class member is $275, actual payments may vary based on the total number of participating consumers.

For those who received a mailed settlement notice, no further action is required to receive their settlement payment. However, individuals who did not receive a mailed notice must submit a valid claim form by June 12, 2024, to be eligible for compensation.